The new fund offer, which has opened for subscription from today, will close on January 20, 2013, the company said in a release.

As per the fund house, while the primary objective of the new fund is to generate income by investing in a portfolio of fixed income securities maturing on or before the maturity of the scheme, the secondary objective is to generate capital appreciation by investing in equity and equity related instruments.

“The SBI Dual Advantage Fund – Series I provides an opportunity to investors to get benefit of equity market, blended along with the quality debt product, hence focusing both on income and growth,” Managing Director of SBI Mutual Fund, Dinesh Khara said.